With yesterday’s ultimatum from Eurogroup head, Jean-Claude Junker, that the Greeks accept the plan as it exists now, or default, positions are being entrenched, ire is being raised, and (for someone who has studied a bit of Greek history, both modern and ancient) it appears we might be headed rather rapidly towards a “Malon Labe!“ moment (this was the iconic response by King Leonidas to the demand that the Greeks at Thermopylae lay down their weapons and surrender to the Persian Empire, it means, “Come and take them”).

While ultimate bankruptcy and default will not happen until March, it is widely understood that this weekend is the deadline for some sort of agreement in order to get bailout funds to Greece to make its March bond payment. So, perhaps, finally, we are at the actual most important week for the future of Greece…until next week, that is…